Asian Equities Remain Near Three Year High

Asian shares held near three-year highs on Tuesday on upbeat Chinese manufacturing data and expectations that U.S. monetary policy will stay loose for some time, while the dollar was broadly soft.

Japan’s Nikkei rose 1.3 percent while the MSCI’s broadest index of ex-Japan Asia-Pacific shares was flat, staying just under a three-year high hit three weeks ago. Hong Kong markets were closed for a holiday.

European shares are expected to rise, with Britain’s FTSE seen advancing up to 0.2 percent and Germany’s DAX 0.1 percent.  China’s official Purchasing Managers’ Index showed factory growth rose to a six-month high in June, as expected, and a similar private survey also showed strong activity, reinforcing signs of stabilisation in the economy.

Reuters

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